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FinanceTerm Sheet

Term Sheet — Wednesday, December 3

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
December 3, 2014, 9:54 AM ET

Abdicated Responsibility

No column this morning, due to some technical glitches at the home office that left me time only to write up the (numerous) news blurbs. Apologies. Will be back, boisterous and scoopy tomorrow morning...

THE BIG DEAL

• KKR has invested $50 million for a minority equity stake in Next Issue Media, an “all you can consume” digital magazine platform that was originally created by publishers Condé Nast, Hearst Magazines, Meredith, News Corp., Rogers Communications and Time Inc. Read more.

VENTURE CAPITAL DEALS

• Naurex Inc., an Evanston, Ill.-based developer of CNS drugs, has raised $80 million in Series C funding. Cowen Investments, EcoR1 Capital, Goudy Park Capital, Portola Capital Partners and Sabby Capital were joined by return backers Adams Street Partners, Baxter Ventures, Druid BioVentures, Genesys Capital, H. Lundbeck AS, Latterell Venture Partners, Northwestern University, PathoCapital, Savitr Capital and Takeda Ventures. www.naurex.com

• Stripe, a San Francisco-based provider of online payment tools, has raised $70 million in new VC funding at a reported $3.5 billion valuation. Thrive Capital led the round, and was joined by return backers Sequoia Capital, Khosla Ventures, Founders Fund and General Catalyst. www.stripe.com

• Thinking Phone Networks Inc., a Cambridge, Mass.-based provider of unified communications as a service, has raised $56.7 million in Series D funding. Technology Crossover Ventures led the round, and was joined by return backer Bessemer Venture Partners. www.thinkingphones.com

• Audentes Therapeutics Inc., a San Francisco-based developer of gene therapy products for patients with serious and rare diseases, has raised $42.5 million in Series B funding. Deerfield Management led the round, and was joined by return backers OrbiMed, 5AM Ventures, and Versant Ventures. www.audentestx.com

• Socrata, a Seattle-based cloud software company focused on democratizing access to data in government, has raised $30 million in Series C funding. Sapphire Ventures led the round, and was joined by return backers OpenView Venture Partners, Morgenthaler Ventures and Frazier Technology Partners. www.socrata.com

• Direct Flow Medical, a Santa Rosa, Calif.–based developer of a transcatheter heart valves, has raised $17 million in new VC funding led by new investor SV Life Sciences. Existing backers include EDF Ventures, New Leaf Venture Partners, Spray Venture Partners, Foundation Medical Partners, VantagePoint Venture Partners and ePlanet Venture Partners. www.directflowmedical.com

• NowSecure (f.k.a. ViaForensics), an Oak Park, Ill.-based of mobile device data security and management, has raised $12.5 million in Series A funding. Baird Capital led the round, and was joined by Math Venture Partners and return backer Jump Capital. www.nowsecure.com

• Blab, a Seattle-based provider of predictive social intelligence for brands, has held an $8.6 million first close on an $11.6 million Series B funding round. Blue Focus Communications Group (China) and Shoreline Venture Management co-led the round, and were joined by Operative Capital. www.blabpredicts.com

• Sonnenbatterie GmbH, a Munich-based provider of smart energy storage systems, has raised $9.4 million in new VC funding. Chrysalix SET and Munich Venture Partners co-led the round, and were joined by return backer eCapital. www.sonnenbatterie.de

• Eloquii Design Inc., a women’s fashion brand focused on plus-sized women, has raised $6 million in Series A funding led by Greycroft Partners. Eloquii was originally a brand of The Limited which was discontinued and purchased by the current team from Limited owners Sun Capital Partners. Read more.

• Weaveworks, a UK-based startup that “enables customers to build and migrate applications to run on any container technology, has raised $5 million in Series A funding led by Accel Partners. www.weave.works.com

• Connora Technologies Inc., a Hayward, Calif.–based developer of recyclable epoxy thermoset technology, has raised an undisclosed amount of funding from Samsung Ventures. www.connoratech.com

• Optimatics, an Overland Park, Kansas-based provider of infrastructure planning software for water and wastewater utilities, has raised an undisclosed amount of first-round funding led by Emerald Technology Ventures. www.optimatics.com

PRIVATE EQUITY DEALS

• Abry Partners has completed its previously-announced sale of Xand, a Hawthorne, N.Y.-based provider of data center infrastructure, collocation, private cloud and business continuity services, to TierPoint. No financial terms were disclosed. TierPoint was acquired earlier this year by an investor group that included Thompson Street Capital Partners, The Stephens Group, RedBird Capital Partners and Jordan/Zalaznick Advisers. www.xand.com

• Battlecat Oil & Gas, an oil and gas exploration company focused on South Texas, has secured $220 million in equity commitments from Lime Rock Partners, Wells Fargo Energy Capital and company management. www.battlecatoil.com

• CarVal and Goldman Sachs have acquired a $2.5 billion portfolio of Irish residential mortgages from Lloyds Banking Group, according to the FT. Read more.

• Marlin Equity Partners has completed a growth equity investment and simultaneous merger of Atlanta-based LogicBlox Inc. and Predictix LLC. LogicBlox is a provider of a hybrid transactional/analytical processing database, while Predictix provides predictive, cloud-based retail applications. www.logicblox.com

• Maxcess International Corp., a portfolio company of Bertram Capital, has agreed to acquire Guiding Systems, a Cleveland-based provider of guiding technologies for the web handling industry, from Fives North American Combustion Inc. No financial terms were disclosed. www.namfg.com

• One Equity Partners has acquired Duran Group, a German maker of borosilicate glass products for laboratories, from Adcuram Group. No financial terms were disclosed. www.duran-group.com

• Onex Partners is in talks to acquire Survitec Group, a British safety-equipment maker that currently is owned by Warburg Pincus, according to Bloomberg. The deal could be valued at more than $700 million, with prior reports suggesting that Blackstone Group was partnering with Safariland LLC on a bid for Survivtec. Read more.

• Ridgemont Equity Partners has acquired Allied 100 LLC, a Woodruff, Wis.–based provider of products and services to the automated external defibrillator market, from Thompson Street Capital Partners. No financial terms were disclosed. BlackArch Partners managed the process. www.allied100.com

IPOs

• Histogenics Corp., a Waltham, Mass.-based regenerative medicine company focused on cartilage, raised $65 million in its IPO. It priced 5.9 million shares at $11 per share, compared to earlier plans to offer nearly 4.29 million shares at between $13 and $15 per share. The pre-revenue company plans to trade on the Nasdaq under ticker symbol HSGX, with Cowen & Co. listed as left lead underwriter. Shareholders include Sofinnova Ventures (27% pre-IPO stake), Split Rock Partners (18%), Altima Partners (6.9%), Boston Millennia Partners (5.9%) and Intrexon Corp. (5.9%). www.histogenics.com

 

EXITS

• Aramark (NYSE: ARMK) has filed for a secondary public offering of 22.5 million shares. At Monday’s closing price of 29.63 per share, the offering could generate over $666 million. Selling shareholders are expected to include Warburg Pincus, Thomas H. Lee Partners, CCMP Capital and GS Capital Partners. www.aramark.com

• Bankrate Inc. (NYSE: RATE) has acquired Wallaby Financial Inc., a Pasadena, Calif.-based provider of mobile and web-based credit card optimization solutions for consumers. No financial terms were disclosed. Wallaby had raised seed funding from Founders Fund, WI Harper, SLP Ventures and Lion Wells Capital. www.walla.by

• Brown Shoe Co. (NYSE: BWS) and Coach (NYSE: COH) and an undisclosed private equity firm are among the bidders for luxury shoemaker Stuart Weitzman, according to the FT. Sycamore Partners owns Stuart Weitzman, and has hired Citigroup and Goldman Sachs to find a buyer for upwards of $1 billion. Read more.

• Freescale Semiconductor (NYSE:FSL) has acquired Zenverge Inc., a Cupertino, Calif.-based developer of HD content processing ICs. No financial terms were disclosed. Zenverge had raised over $90 million in VC funding from DCM, Norwest Venture Partners, Motorola Mobility Ventures, Battery Ventures, CID Group and Woodside Fund. www.zenverge.com

• Recall Holdings Ltd. (ASX: REC) has acquired Business Records Management LLC, a Pittsburgh-based provider of information management services, from Bregal Sagemount for $77 million. www.businessrecords.com

• TowerBrook Capital Partners has run into difficulty selling lending arm Hayfin Capital Management to Guggenheim for between £600 million and £700 million, according to Dow Jones. Read more.

• TPG Capital has agreed to sell its 4.6% stake in Japanese toymaker Tomy Co. (Tokyo: 7867) back to the company, as part of the company’s larger share buyback plan. Read more.

OTHER DEALS

• The Ensign Group Inc. (Nasdaq: ENSG) has acquired Guardian Angel Hospice, a San Diego-based hospice agency. No financial terms were disclosed. www.ensigngroup.net

FIRMS & FUNDS

• Fortress Investment Group is forming a long-short equity hedge fund unit, according to Bloomberg. Read more.

 

MOVING IN, UP, ON & OUT

• Richard Durkes has joined BayBoston Managers, a private equity firm focused on community banks and financial services companies, as a managing partner. He has spent the past 12 years as a senior investment banker with Sandler O’Neill & Associates. www.bayboston.com

• Yuri Khalif has joined The TCW Group as a managing director focused on marketing and client relations. He previously was a partner and executive director at Hatteras Funds. www.tcw.com

• Nick Sinai has joined Insight Venture Partners as a venture partner. He previously was U.S. Deputy CTO, where he led President Obama's Open Data and Open Government initiatives. He has past VC experience with both Tenaya Capital and Polaris Partners. www.insightventures.com

• Andy Wiedlin has joined Andreessen Horowitz as an entrepreneur-in-residence. He previously was chief revenue officer of Buzzfeed, an Andreessen Horowitz portfolio company. Read more.

Share today's Term Sheet:
http://fortune.com/2014/12/03/term-sheet-wed-december-3

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By Dan Primack
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